Louisiana State Employees Retirement System lowered its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 7.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,620 shares of the industrial products company’s stock after selling 680 shares during the period. Louisiana State Employees Retirement System’s holdings in ScanSource were worth $319,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SCSC. Tower Research Capital LLC TRC raised its position in ScanSource by 1,067.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,214 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ScanSource by 51.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 657 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in ScanSource in the 3rd quarter valued at about $62,000. Millennium Management LLC bought a new position in shares of ScanSource during the 3rd quarter valued at about $238,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of ScanSource during the 3rd quarter valued at about $241,000. 93.22% of the stock is currently owned by hedge funds and other institutional investors.
SCSC opened at $34.82 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a market cap of $895.72 million, a PE ratio of 16.35 and a beta of 0.99. The business has a fifty day simple moving average of $36.72 and a 200-day simple moving average of $33.06. ScanSource, Inc. has a fifty-two week low of $26.84 and a fifty-two week high of $40.55.
In related news, CFO Gerald Lyons sold 1,000 shares of ScanSource stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $35.05, for a total value of $35,050.00. Following the transaction, the chief financial officer now owns 16,868 shares of the company’s stock, valued at approximately $591,223.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.87% of the company’s stock.
A number of analysts recently commented on SCSC shares. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. BidaskClub lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. TheStreet upgraded shares of ScanSource from a “c+” rating to a “b-” rating in a report on Thursday, November 21st. Finally, ValuEngine upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. ScanSource currently has an average rating of “Hold” and an average target price of $37.00.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
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